Nipapun Poonsateansup, CFP^® Dependent Financial Planner

Sufficiency economy Is a philosophy that His Majesty King Bhumibol Adulyadej Granted His Majesty the King's guidance to the way of life for Thai people throughout. Since before the economic crisis and after emphasizing the solution in order to be saved and can sustainably and sustainably live under globalization and various changes. Which can be used by people at all levels from the level of family, community to the state level.

“Sufficiency may be a lot. May have luxurious things but must not encroach others Must be appropriately modest. Talk just enough, do enough Self-sufficiency ... " Royal speech by His Majesty King Bhumibol Adulyadej Bestowed on various parties on December 4, 1998, on the birthday of 5 December 1998.

Sufficiency Economy Principles Can summarize out 3 principles that are having moderation, reasoning and good immunity, all 3 of these principles must be based on knowledge. And must have morals.

In fact, the Sufficiency Economy Philosophy is a way that everyone applied and put into action. Because the main goal of the sufficiency economy is for balanced and sustainable development. Financial planning to We can make financial plans according to the guidelines of the sufficiency economy. Because "money is one resource" that we must allocate enough for the present and the future. Financial planning is, therefore, a matter of financial balance. In order to have money to spend both today and tomorrow. For sustainable wealth creation for long-term goals and for a stable retirement. We can apply the sufficiency economy philosophy to financial planning as follows.

1. Financial moderation the meaning of each person's modesty may not be the same. It depends on each person what level of moderation is. This is to look at their knowledge and ability, consisting of, however, what everyone should consider in the principle of modesty is extravagance, economy, and spending. or not doing anything that is too extreme, such as borrowing large amounts of money to invest in order to be successful quickly.
2. Financial reasoning means planning and studying knowledge to make rational decisions in life. Don't believe anyone easily. Must see why there is a source, go to and find information from many ways before believing or making financial decisions. In addition, there is an understanding of financial planning. Whether it is cost planning, savings, and investment. Because financial planning is a tool that allows us to carefully allocate financial resources. The balance in life and enough to live a normal life in the future.
3. Having a good immune system means being prepared. When he understood that there might be unforeseen events and will affect their own financial status. Therefore, must prepare to deal with various events that may come unexpectedly, such as accidents, illnesses, and deaths. Understand the importance of saving money and find knowledge about saving and careful investment. Know how to create a return on investment carefully to build strong financial immunity for yourself. Which financial planning is a tool that gives us good financial immunity because we have allocated funds in accordance with both short-term and long-term goals, there is an emergency reserve? With an insurance plan. There is preparation for retirement. As well as planning investments in line with their ability to take risks.

By all the above financial planning must be based on knowledge, prudence, caution, and morality as an important basis for decision making, including honesty, patience, never discourage obstacles. Use intelligence in life, not greedy and not too stingy.

In short, if we live our life based on the sufficiency economy philosophy inevitably makes decisions in various matters prudent based on reasonableness and immunity to reduce the risk of living.